FY2017 Earnings Forecast for Del Taco Restaurants, Inc. (TACO) Issued By Wedbush
Del Taco Restaurants, Inc. (NASDAQ:TACO) – Stock analysts at Wedbush decreased their FY2017 earnings estimates for Del Taco Restaurants in a research report issued to clients and investors on Friday. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $0.54 per share for the year, down from their prior estimate of $0.55. Wedbush currently has a “Buy” rating and a $17.00 target price on the stock. Wedbush also issued estimates for Del Taco Restaurants’ Q4 2017 earnings at $0.17 EPS, Q1 2018 earnings at $0.09 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.53 EPS.
Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings data on Thursday, October 19th. The restaurant operator reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. The business had revenue of $110.99 million during the quarter, compared to analysts’ expectations of $110.46 million. Del Taco Restaurants had a return on equity of 5.92% and a net margin of 4.78%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. ILLEGAL ACTIVITY NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/23/fy2017-earnings-forecast-for-del-taco-restaurants-inc-taco-issued-by-wedbush.html.
TACO has been the subject of several other research reports. Zacks Investment Research downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Maxim Group restated a “buy” rating and set a $19.00 price objective on shares of Del Taco Restaurants in a report on Wednesday, October 4th. BidaskClub cut Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, BTIG Research reduced their target price on Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Del Taco Restaurants presently has an average rating of “Hold” and a consensus price target of $16.67.
Shares of Del Taco Restaurants (NASDAQ:TACO) opened at 12.53 on Monday. The stock has a 50 day moving average price of $14.93 and a 200-day moving average price of $13.60. Del Taco Restaurants has a 52 week low of $11.58 and a 52 week high of $15.99. The firm has a market capitalization of $484.74 million, a price-to-earnings ratio of 22.06 and a beta of -0.20.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC boosted its position in shares of Del Taco Restaurants by 24.4% during the second quarter. Lord Abbett & CO. LLC now owns 742,868 shares of the restaurant operator’s stock worth $10,214,000 after buying an additional 145,736 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in Del Taco Restaurants in the second quarter worth approximately $560,000. California State Teachers Retirement System lifted its position in Del Taco Restaurants by 28.1% in the second quarter. California State Teachers Retirement System now owns 58,409 shares of the restaurant operator’s stock worth $803,000 after purchasing an additional 12,800 shares during the period. The Manufacturers Life Insurance Company lifted its position in Del Taco Restaurants by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,872 shares of the restaurant operator’s stock worth $356,000 after purchasing an additional 7,802 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Del Taco Restaurants in the second quarter worth approximately $249,000. Institutional investors and hedge funds own 69.94% of the company’s stock.
About Del Taco Restaurants
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
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